U.S-based Axalta has completed it’s acquisition of aftermarket paint, body filler and accessories supplier U-Pol. The deal has been valued at around $590m by the ICIS business news service.
“The acquisition of U-POL is another step in Axalta’s growth strategy and strengthens our global leadership position in the refinish coatings segment,” said Robert Bryant, Axalta’s Chief Executive Officer.
U-Pol has a UK development facility and a manufacturing plant in Wellingborough, Northamptonshire.
Axalta is on a worldwide expansion drive. Just hours after confirming that the U-Pol transaction was complete, it announced that it had broken ground on a new coatings facility in Jilin, Northern China.
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